Billionaire Mark Cuban Now Owns Crypto Asset Backed by Investment Giant Pantera

Mark Cuban now counts a Pantera Capital-backed crypto as one of the digital assets in his ever-growing cryptocurrency portfolio.

Based on the contents of the Dallas Mavericks owner and Shark Tank star’s Ethereum wallet address, Cuban is now in possession of 2,500 PowerTrade Fuel (PTF) coins.

PTF is the native token of PowerTrade, a crypto options trading platform. It is the governance token of the treasury which covers traders on PowerTrade in case of a black swan event – such as when margin collateral is insufficient to cover the open leveraged positions.

Pantera Capital is one of the main backers of PowerTrade. Last year in September, Pantera led a private token sale for PowerTrade which raised nearly $5 million. Other backers include Astronaut Capital, QCP Capital, and Signum Capital.

PTF is currently trading at about $0.70 cents, giving Cuban’s stash a value of close to $1,700. The coin has a total market cap of slightly over $14 million, according to CoinGecko.

PTF, which started trading in September of 2020, has surged by about 108% over the past 30 days.

Cuban’s Ethereum wallet address became public knowledge last month after he promoted a digital collectible listed on the non-fungible token (NFT) marketplace, Rarible, through his social media account.

The Shark Tank star’s largest crypto holding based on his known wallet address is decentralized finance (DeFi) platform Aave (AAVE). He currently owns 947 staked AAVE worth close to $500,000.

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